Hussman Strategic Advisors Inc. raised its stake in Citigroup Inc. (NYSE:C – Free Report) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,500 shares of the company’s stock after purchasing an additional 10,500 shares during the period. Citigroup accounts for about 1.1% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 11th biggest position. Hussman Strategic Advisors Inc.’s holdings in Citigroup were worth $3,695,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB purchased a new stake in shares of Citigroup in the 3rd quarter valued at about $4,607,000. Swedbank AB lifted its stake in Citigroup by 1.3% in the third quarter. Swedbank AB now owns 4,378,833 shares of the company’s stock valued at $274,115,000 after buying an additional 54,782 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Citigroup in the third quarter valued at approximately $28,000. Eastern Bank acquired a new stake in shares of Citigroup in the third quarter valued at approximately $87,000. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Citigroup during the third quarter worth approximately $2,232,000. Institutional investors and hedge funds own 71.72% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Oppenheimer decreased their price target on shares of Citigroup from $110.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Piper Sandler reiterated an “overweight” rating and set a $83.00 target price (up previously from $80.00) on shares of Citigroup in a research note on Thursday, January 16th. Morgan Stanley boosted their price target on Citigroup from $104.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial assumed coverage on Citigroup in a research note on Tuesday, January 7th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on Citigroup from $77.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.93.
Insider Activity at Citigroup
In related news, CFO Mark Mason sold 58,465 shares of Citigroup stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $83.21, for a total transaction of $4,864,872.65. Following the completion of the transaction, the chief financial officer now directly owns 217,331 shares in the company, valued at $18,084,112.51. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara Wechter sold 15,125 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $81.01, for a total value of $1,225,276.25. Following the sale, the insider now owns 109,780 shares in the company, valued at approximately $8,893,277.80. This trade represents a 12.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,590 shares of company stock valued at $8,523,149 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Citigroup Price Performance
Citigroup stock opened at $83.94 on Thursday. The company has a market cap of $158.74 billion, a P/E ratio of 14.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. Citigroup Inc. has a one year low of $53.51 and a one year high of $84.74. The business has a fifty day moving average of $76.43 and a two-hundred day moving average of $68.23. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.96 and a current ratio of 0.96.
Citigroup (NYSE:C – Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.22 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The firm had revenue of $19.58 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.
Citigroup Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 3rd will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, February 3rd. Citigroup’s dividend payout ratio is currently 37.65%.
Citigroup announced that its board has approved a share repurchase plan on Wednesday, January 15th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Citigroup Company Profile
Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.
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